Dibenzofuran (CAS 132-64-9) Market was valued at USD 0.48 Billion in 2022 and is projected to reach USD 0.73 Billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
As we look ahead from 2023 to 2033, the EV Range Extender Market is expected to continue its upward trajectory. IMARC Group projects that the market will reach USD 3.7 billion by 2033, exhibiting a growth rate (CAGR) of 8.99% during 2025-2033. This anticipated growth is attributed to the escalating demand for alternatives to conventional vehicles, as consumers become more environmentally conscious and seek sustainable transportation solutions.
One notable trend is the increasing popularity of plug-in hybrid electric vehicles (PHEVs), which combine the benefits of internal combustion engines and electric motors. Global sales of PHEVs increased by 50% in the first five months of 2024, outpacing the 9% growth of pure electric vehicles. In China, PHEV sales surged 70% in the first half of 2024 compared to the previous year, now making up 42% of new-energy car sales. This shift indicates a growing consumer preference for vehicles that offer flexibility and extended driving ranges.
Moreover, advancements in battery technology are playing a crucial role in shaping the future of the EV Range Extender Market. Companies are developing batteries that can charge to 80% in around 10 minutes, addressing one of the major concerns for potential EV drivers—charging times. However, the high cost of batteries and the need for adequate charging infrastructure remain challenges that the industry must overcome to achieve widespread adoption.
In my personal experience, the evolution of range extenders has significantly enhanced the practicality of electric vehicles. The integration of ICE range extenders in early models provided a seamless transition for drivers accustomed to traditional fuel-powered cars, effectively mitigating range anxiety. As technology advanced, the emergence of fuel cell range extenders and rapid-charging batteries further improved the EV driving experience, making long-distance travel more feasible and convenient.
In conclusion, the EV Range Extender Market has evolved substantially from 2018 to 2022 and is poised for continued growth in the coming decade. The combination of technological advancements, shifting consumer preferences, and supportive government policies will likely drive the market forward, making electric vehicles a more practical and appealing option for a broader range of consumers.
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Between 2018 and 2022, the Electric Vehicle (EV) Range Extender Market experienced significant growth, driven by increasing demand for extended driving ranges and advancements in hybrid technologies. According to Grand View Research, the market demand was pegged at 247,285 units in 2017 and was projected to exhibit a compound annual growth rate (CAGR) of 10.2% from 2018 to 2025. This surge was primarily due to the rising adoption of electric and hybrid vehicles, coupled with government incentives promoting low-emission transportation.
During this period, various types of range extenders, including internal combustion engine (ICE) and fuel cell range extenders, were developed to address range anxiety among EV users. The ICE range extender segment, in particular, gained traction due to its cost-effectiveness and ease of integration into existing vehicle platforms. For instance, companies like BMW introduced models equipped with ICE range extenders to enhance driving range without compromising performance.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Dibenzofuran (CAS 132-64-9) Market
Pharmaceutical
Disinfectants and Insecticides
Others
Based on Types the Market is categorized into Below types that held the largest Dibenzofuran (CAS 132-64-9) market share In 2023.
Purity: 95-98%
Purity: Above 98%
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ Dibenzofuran (CAS 132-64-9) Market Research Analysis
1. Introduction of the Global Dibenzofuran (CAS 132-64-9) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Dibenzofuran (CAS 132-64-9) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Dibenzofuran (CAS 132-64-9) Market, By Type
6. Global Dibenzofuran (CAS 132-64-9) Market, By Application
7. Global Dibenzofuran (CAS 132-64-9) Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Dibenzofuran (CAS 132-64-9) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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